November 3, 2020 – Bob Horvath of Horvath & Tremblay has successfully completed the sale of Rite Aid in Manchester, New Hampshire. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $8,275,000.
Rite Aid is located at 577 Mast Road in Manchester, New Hampshire. The stand-alone building contains 14,673 square feet, including a double drive through on a 1.85-acre parcel. Originally developed as a prototype format in 2009, Rite Aid has 8+ years remaining on a Triple Net Lease, as well as six, 5-year renewal options with staggered 10% rent increases. The property is located on a primary retail corridor with excellent visibility and signage at the signalized intersection of Mast Street and Joffre Street and is situated between a Hannaford Supermarket and Goffstown Plaza. Rite Aid benefits from outstanding demographics with more than 134,000 people living within a 5-mile radius and an average household income in excess of $85,000.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.